December, 2 - USD/CAD didn't break the uptrend after all. Enjoy!

In the end of last week, we were pretty scared of what future was holding for USD/CAD couple. After all, the two dollars had such a splendid uptrend that we were hoping that it would go on, of course, there was no way for us to predict whether the uptrend was going go on indeed or whether the prediction was going to be fulfilled and the couple was going to plunge lower. And, right now, when GDP data is already released and when we can analyze the situation calmly, it doesn’t look as damming after all.

Today, even though Canadian GDP data was quite upbeat and the prices for Canadian oil are also growing and growing, both of which is supposed to be the reason for CAD growing, we can see that USD is still winning the fight and even despite small retracements, overall, the couple is demonstrating growth, which is good for us. It means that the uptrend is pretty strong with it.

Although this still makes us think what must happen in order for the growth to be knocked down just a peg? Well, right now it is not the time to think about something like that. Right now we can just enjoy the growth. When the end of the trend comes, we are going to be able to tell thank to our trading signals.

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